Guideline Value for Chakarapani Street / Gandhi Nagar

Chakarapani Street / Gandhi Nagar guideline value

The current guideline value of Chakarapani Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - II.

How the guideline value of Chakarapani Street / Gandhi Nagar has changed

The guideline value for Chakarapani Street / Gandhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a change of +13%. The value rose to Rs 360 per sq.ft in 2007, which was a substantial increase of +69%. By 2017, the guideline value reached Rs 1,507 per sq.ft, reflecting a remarkable rise of +319% from the previous revision. The register has no figure for this street in 2012.

Continuing this trend, the value increased to Rs 2,250 per sq.ft in 2023, which was a +49% change from 2017. The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, resulting in a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1216%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Chakarapani Street / Gandhi Nagar above this median.

• Chakarapani Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Chakarapani Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Buddhar Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Brindavan Colony (All Streets): Rs 1,980 per sq.ft (2024)
• Cheran Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Chettshop Lane, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Chakarapani Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakarapani Street / Gandhi Nagar?

The Chakarapani Street / Gandhi Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a crucial factor in property transactions in Pammal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This value is essential for both parties in the transaction, as it provides a clear framework for the financial aspects of the sale, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chakarapani Street / Gandhi Nagar?

The current guideline value of Chakarapani Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of +1216% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 2,22,750.

Which office handles registrations for Chakarapani Street / Gandhi Nagar?

The Pammal Sub Registrar Office handles registrations for Chakarapani Street / Gandhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring that stamp duty and registration fees are appropriately calculated and collected during property transactions.